JPMorgan Chase & Co. Sells 78,756 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

JPMorgan Chase & Co. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 55.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,098 shares of the technology company’s stock after selling 78,756 shares during the period. JPMorgan Chase & Co.’s holdings in The Descartes Systems Group were worth $6,497,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DSGX. Blue Trust Inc. grew its stake in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of The Descartes Systems Group by 26.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock valued at $156,000 after purchasing an additional 320 shares in the last quarter. Park Place Capital Corp raised its stake in shares of The Descartes Systems Group by 76.6% during the 3rd quarter. Park Place Capital Corp now owns 1,559 shares of the technology company’s stock valued at $161,000 after purchasing an additional 676 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in The Descartes Systems Group during the 3rd quarter worth about $203,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DSGX shares. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Trading Up 2.2 %

Shares of The Descartes Systems Group stock opened at $114.97 on Thursday. The business’s 50-day moving average price is $115.47 and its 200-day moving average price is $106.11. The firm has a market capitalization of $9.83 billion, a PE ratio of 72.31 and a beta of 0.99. The Descartes Systems Group Inc. has a 12 month low of $82.88 and a 12 month high of $122.88.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.